The 50-acre property, which was once home to Union Camp's world headquarters before International acquired it in 1999, was purchased by William Paterson, which intends to use it for the expansion of its business school. The college was attracted to the property because of its potential for expansion, an on-site cafeteria and a park-like setting, not to mention International's charitable donation to the business school.
Putting together the deal for both the buyer and seller were James L. Frank, James Postell, Don Sperling and John Kaye from Insignia/ESG of New Jersey's Saddle Brook office.
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